CLASS EXERCISE – recording of transactions (Income Statement Accounts) Mar 16, Sales for the day @ P 3,000 Mar 17, Zee paid for the following: Meals @ P500 & Transportation Cost @ P200. Mar 18, Yee customer purchased on account @ P 10,000. Mar 19, Walk in sales for the day P 2,000 Mar 20, Zee paid rent @ P 5,000 CLASS EXERCISE – recording of transactions (Income Statement Accounts) Mar 21, Zee paid Electricity Consumption @ P 2,000 Mar 22, Sales for the day @ P4,000 Mar 23, Xee a regular customer purchased groceries @ 60% cash and the rest are on account. Total groceries cost is P 20,000 Mar 24, The customer on Mar 18, paid 40% of his account in cash. Mar 25, Xee paid in full

CLASS EXERCISE – recording of transactions (Income Statement Accounts) Mar 16, Sales for the day @ P 3,000 Mar 17, Zee paid for the following: Meals @ P500 & Transportation Cost @ P200. Mar 18, Yee customer purchased on account @ P 10,000. Mar 19, Walk in sales for the day P 2,000 Mar 20, Zee paid rent @ P 5,000 CLASS EXERCISE – recording of transactions (Income Statement Accounts) Mar 21, Zee paid Electricity Consumption @ P 2,000 Mar 22, Sales for the day @ P4,000 Mar 23, Xee a regular customer purchased groceries @ 60% cash and the rest are on account. Total groceries cost is P 20,000 Mar 24, The customer on Mar 18, paid 40% of his account in cash. Mar 25, Xee paid in full

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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